Ok, that’s enough. We are mad as hell and we are not going to take it anymore. Mess with interest prices, fine. Mess with short selling, whatever. But when you take away the only chance a member of the Y-Generation has to connect with the American West complete with perpetual blue skies, millions of snowflakes fluttering to the beat of your heart, 400 inches of annual snowfall or three ski-ready mountains, we are not taking it sitting down.
Ski resort for super rich files for bankruptcy [Reuters]
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first
first biatch
@2 Not winning at life
Less and less playgrounds for Super Rich White People – all part of The Master Plan. Everything’s falling into place like clockwork.
Barak O.
didn’t EP used to have a job at a mid market PE firm? I assume it takes more time to post than read these things. was that all just a cruel fantasy, or are her portfolio companies doing so well there’s no need for further oversight?
Whoa, since when in $6mm for 1.25 acres on a golf course not a steal!?
IIRC there was some drama surrounding the wife/owner of the resort and that she had been trying to throw it into BK to keep money from an ex or something. Either way, this club has been in the news recently for something or other.
Nigga pleez — anyone who’s been to Jackson knows that the real money keeps their tax residence on the Wyoming side of the park.
the yellowstone club is very, very different from big sky.
http://money.cnn.com/2008/02/04/lifestyle/paradise_lost.fortune/index.htm
Fortune had a story on him a while ago. Funny stuff going on at that resort.
7 is at least partially correct- there have been accusations of misappropriation of funds by the dude who was running it and all kinds of other stuff. This was goign on way before krusty’s kredit krunch. And Bess, when you use Kristy’s Kredit Krunch, please show attribution to “The Beaver” TIA.
http://www.tetongravity.com/forums/showthread.php?t=107783&highlight=Yellowstone+Club
6 when its for interval, rather than full, ownership.
These people have remarkable publicists. They had breathless stories about how easy their divorce was…dividing assets over a bottle of wine, yada yada. Two months later they are in a no-holds-barred vicious cage match to the death. Nice.
@8 good call
No big loss, the skiing was weak, and the service was suspect when I checked it out a couple of years ago. I thought it was odd that a resort that focused on the superwealthy was so far (1 hour +) from an airport that you could fly a jet into. It all seemed kinda lame.
Sort of reminds me of the downfalls of Tuxedo Park NY (home of Charles Mitchell of National City in the ’30s, at least prior to his becoming a resident of a federal penitentiary for fraud), and Gibson Island MD (originally to be a 36 hole golf resort) when the last depression hit them. Though both came back as nice places after a few decades.
@8 good call
No big loss, the skiing was weak, and the service was suspect when I checked it out a couple of years ago. I thought it was odd that a resort that focused on the superwealthy was so far (1 hour +) from an airport that you could fly a jet into. It all seemed kinda lame.
tuxedo is killer w/ a pontoon boat, some cocktails and hors d’ouevres (sp)..
seriously
If you have to advertise this sort of thing, it’s not what it’s cracked up to be.
Got an ad for these guys because of my zip code.
18 Isn’t that typically the way with real estate developments. Sell a dream, some sort of lifestyle. My mail is filled with pitches for all of those glossy but so cheezy east side condos that are approaching finish (74/2, 79/2, 72/1, 86/Lex, 86/3). Up until a few months ago they were showing prices, with one bedrooms around $1.5. Who’s gonna buy all that s!!t?
Does this mean I’ll be seeing Bill Gates at Hunter Mountain? Nice…
20 you mean huntah
Wow, who didn’t see this coming?
Moonlight Basin, which is all of 5 minutes from the YC, got fucked by the lehmen bankruptcy and had to lay off most of their employees. They plan on opening this winter, but its hard to see how that will happen without a major financial backer. Glad we’ll be in Jackson this winter.
@5 EP is actually the Bourbaki of finance journalism.